Brian Stanley (Laois-Offaly, Sinn Fein) | Oireachtas source

We are dealing with three amendments. The most substantial, amendment No. 20, has serious implications. The problem with the amendment is that the public knows at this stage what is happening and what has been happening to date. They have been following the succession of money transferred in one form or another, whether the €540 million from the National Pensions Reserve Fund, the €500 million loan that is now being transferred onto the State's balance sheet, which flies in the face of the reason Irish Water was set up in the first place, or the write-off of €59 million in rates to local authorities. Of course, local authorities will have to pick up the tab for that. Who funds the local authorities? It is Joe Public. Joe Public has to pick up the tab.

Throughout last year and the year before I tried to find out the different funding streams and methods of funding for this corporate monster we call Uisce Éireann. Some of the earlier answers were as clear as mud and diversionary. They were not in any way clear. Instead of getting figures for one year we got figures grouped together covering more than a year.

The point is that the total sum going over comprises a handsome amount. The Government is presenting an amendment to the effect that a figure shall be transferred over not exceeding €540 million. I presume this €540 million is for the current year and that it serves to cover the cost of the €399 million that is on the State's balance sheet which went to Irish Water for operational costs and the €222 million in capital costs. The water conservation grant is separate and will come out of the social protection budget. As I recall it, that figure was not in the social protection budget last year when it was being put together, but I am open to correction on that. If it was not and if up to €130 million has to come out of the social protection budget, where does that leave the shortfall in social protection funding?

Let us add together everything transferred back onto the State's balance sheet. This is why I am concerned about the €540 million. The figure includes the €500 million loan that the Government transferred onto the State's balance sheet in December and €59 million in rates, for which local authorities will take the hit. This brings us to €559 million. There is a further €399 million subvention for operational costs, €222 million for capital subvention and €130 million for the water conservation grant. It is not a water conservation grant; it is simply a carrot or inducement. The Government knows it must have incentives tied in to such a grant for it to operate. The millionaires can fill their swimming pools ten times over every day and still receive that grant.

Is the €540 million a once-off payment? It is in this legislation. That is what it looks and feels like. Is it the case that the Government will come back next year to look for a further €540 million or €640 million? That is the question.

The public is concerned because there is a correlation between what is spent and what the public will have to cough up some day. That day will probably come sooner rather than later, because the legislation setting out the charges can be changed.

The energy regulator was moved to one side. Effectively, the Government pushed the regulator out of the way. In the past six months €1.31 billion is what all this money amounts to. That does not include the €540 million for the meters and the €300 million borrowed for capital works, borrowed on the private markets at a higher interest rate than borrowing on the State's balance sheet. When we add these to the figure, we are almost up to €2 billion. If this amendment is passed and the €540 million is waved through using the Government majority, will it leave the way open for the Government to come back next year looking for a further figure, or is this a once-off arrangement? That is the question. The public knows all this money has gone across and they know what is yet to go. Even if we take out the costs of meters, it comes to €1.61 billion according to the Government figures. That is what the figure amounts to at this stage.

That is now on the State’s balance sheet. Any answer one gets in this regard cannot change that, it is in the legislation. The €59 million rates shortfall must be made up by the public, as must the €399 million subvention for operational costs and the €222 million for capital costs. The money for the water conservation grant will come in taxation. I have no problem paying that tax.

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